BBR Rate definition

BBR Rate. The average bid rate (the “BBR Screen Rate”) displayed at or about 10:30 a.m. (Sydney time) two Business Days prior to the commencement of such Interest Period on the Reuters screen BBSY page for a term equivalent to the Interest Period; or (b) to the extent the BBR Screen Rate is not displayed for a term equivalent to such Interest Period or the basis on which the BBR Screen Rate is displayed is changed and in the opinion of the Administrative Agent it ceases to reflect the Lenders’ cost of funding to the same extent as at the date of this Credit Agreement, then the BBR Rate will be the rate determined by the Administrative Agent in good faith and notified by it to the Australian Borrower to be the average of the buying rates quoted to the Administrative Agent by three (3) Australian Reference Banks at or about that time on that date. The buying rates must be for bills of exchange accepted by a leading Australian bank and which have a term equivalent to the Interest Period. If there are no buying rates, the rate for each applicable Lender will be the rate notified by that Lender to the Administrative Agent to be that Lender’s cost of funding its participation in the relevant Australian Loan for that period. Rates will be expressed as a yield percent per annum to maturity, and if necessary will be rounded up to the nearest fourth decimal place.

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BBR Rate means the official Bank of England base rate (or any successor rate) set by the Bank of England Monetary Policy Committee.

BBR Rate means, for any day in any calendar month with respect to a BBR Rate Loan, the rate equal to:

Examples of BBR Rate in a sentence

During such periods as Multicurrency Revolving Loans shall be comprised of BBR Rate Loans, each such BBR Rate Loan shall bear interest at a per annum rate equal to the sum of the BBR Rate plus the Applicable Margin.
Thereafter, the obligation of the Lenders to make or maintain LIBO Rate Loans, BBR Rate Loans, TIBOR Rate Loans or Canadian BA Rate Loans, as applicable, in the affected currency or currencies shall be suspended until the Administrative Agent (but in any case upon the instruction of the Required Lenders) revokes such notice.
Within the foregoing parameters, prepayments under this Section shall be applied (A) first to Alternate Base Rate Loans, (B) then ratably to Canadian Prime Rate Loans and Offshore Rate Loans, (C) then to BBR Rate Loans in direct order of Interest Period maturities and (D) then to LIBOR Rate Loans in direct order of Interest Period maturities.
Until any such notice has been withdrawn by the Administrative Agent, no further Loans shall be made as, continued as, or converted into, LIBOR Rate Loans or BBR Rate Loans for the Interest Periods so affected.
Committed Australian Loans shall be made in Dollars or Australian Dollars and shall be either Australian Base Rate Loans, LIBO Rate Loans (if in Dollars) or BBR Rate Loans, as the Australian Borrower or the Parent, on behalf of the Australian Borrower, may request subject to and in accordance with this Section 2.02.
Any prepayment of a LIBO Rate Loan, a BBR Rate Loan, a TIBOR Rate Loan or a Canadian BA Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.
If the Borrower shall fail to specify in any such Notice of Borrowing (x) an applicable Interest Period in the case of a LIBOR Rate Loan or BBR Rate Loans, then such notice shall be deemed to be a request for an Interest Period of one month or (y) the currency for such Loan, then such Loan shall be made in Euros.
Multicurrency Revolving Loans denominated in (A) Australian Dollars shall consist solely of BBR Rate Loans, (B) Canadian Dollars shall consist solely of Canadian Prime Rate Loans and (C) Mexican Pesos shall consist solely of Offshore Rate Loans.
Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if LIBO Rate Loans, BBR Rate Loans, TIBOR Rate Loans or Canadian BA Rate Loans, the Interest Period(s) of such Loans.
Unless the Borrower shall have notified the Administrative Agent upon receipt of such telephone notice that it wishes to rescind or modify its request regarding such LIBOR Rate Loans or BBR Rate Loans, any Loans that were requested to be made in Dollars as LIBOR Rate Loans shall be made as Alternate Base Rate Loans and any Loans that were requested to be converted into or continued as LIBOR Rate Loans in Dollars shall remain as or be converted into Alternate Base Rate Loans.

More Definitions of BBR Rate

BBR Rate means (a) the average bid rate (the “BBR Screen Rate”) displayed at or about 10:30 a.m. (Sydney time) two Business Days prior to the commencement of such Interest Period on the Reuters BBSY page for a term equivalent to the Interest Period; or (b) to the extent the BBR Screen Rate is not displayed for a term equivalent to such Interest Period or the basis on which the BBR Screen Rate is displayed is changed and in the commercially reasonable opinion of the Administrative Agent it ceases to reflect the Revolving Lenders’ cost of funding to the same extent as at the Effective Date, then the BBR Rate will be the rate determined by the Administrative Agent in good faith and notified by it to the Borrower to be the average of the buying rates quoted to the Administrative Agent by three (3) Australian leading reference banks in the offshore interbank market for Australian Dollars at or about that time on that date. The buying rates must be for bills of exchange accepted by a leading Australian bank and which have a term equivalent to the Interest Period. If there are no buying rates, the rate for each Revolving Lender will be the rate determined by such Revolving Lender in good faith and notified by such Revolving Lender to the Administrative Agent as the Revolving Lender’s cost of funding the relevant Loan for that period.

BBR Rate means for an Interest Period of any Loan or overdue amount denominated in Australian Dollars: